BSkyB acquries German and Italian Units of 21st Century Fox

British Sky Boradcasting Group (BskyB) acquires 21st Century Fox German and Italian assets for more than $9 billion.

Largest BskyB shareholder 21st Century Fox, owns 39 percent stake , is trying to acquire media jaggernaut Time Warner for $80 Billion. All tries from 21st Century Fox about acquiring Time Warner were rejected.

Under the terms of the deal, BskyB acquires Sky Italia, fully owned by 21st century Fox, for £2,5 Billion at the case may be $4,3 Billion. The deal includes £2.1 billion in cash and £380 million paid by transferring the BskyB’s 21 percent stake in Natioanl Geographic Channel to 21st Century Fox.

“We believe that the three Sky businesses will undoubtedly be stronger together,” BSkyB’s chief executive, Jeremy Darroch, told investors on Friday. “The enlarged Sky will be good news for customers and investors alike.”added

“Our renewed authorization for our share buyback program will be executed regardless of any potential acquisition or investment activity,” Mr. Murdoch, 21st Century Fox’s chief executive, said in a statement

The deal must still receive approval from regulators and BSkyB’s minority shareholders, and antitrust officials.

Mr. Stakebay says :

Combined company should have nearby 20 million subscribers. BskyB tries to reduce expenses from set-top boxes to broadcasting rights. Last three years Sky Italia lost 220 000 subsribers from reasons of bad economical situation.